Australian Tourism Industry likely to hit $100 Billion in 2012

According to research, the tourism industry in relation to Australia’s economy is seen to reach $100 billion for this year.

While overseas visitor rate will lower slightly, the domestic travel is seen to grow.

There has been an estimate by the Tourism Forecasting Committee, the independent group that is being funded by the government, that there will be a likely increase of 1 percent instead of 1.3 percent in the overseas visitor numbers this year.

Furthermore, in their forecast on the number of visitors next year, they have cut estimate from 3.3 percent to only 3 percent. According to the group, the eurozone debt crisis, political trouble in the Middle East, and uncertainty in the economy contribute to the threats. Despite this, it is expected that there will be about 6 million visitors to come here this year and 6.1 million next year.

There will also be more Australians who will be going offshore than inbound visitors. There will be an increase of 7.8 percent to 8 million this year while there will also be an increase of 6.6 percent to 8.6 million next year.

Australians are currently trading domestic travels for travels abroad like to Thailand, Bali, and Hawaii.

"Melburnians, Victorians, holiday differently, with short breaks and long weekends where they enjoy themselves with fine dining, and the holiday industry is starting to adapt,” said Mr. Bernard Salt, Committee Head and Demographer.

He also said that Asia is firing up the tourism industry of Australia wherein arrivals from Asian countries is seen to grow to 45 percent by 2021.

"China and Indonesia are the markets forecast to perform most strongly in 2011-12 and 2012-13 and that growth from Asia more broadly is expected to offset continued softness in travel ... from European markets," he added.